Global Hematology Oncology Market, By Hematology Product (Hematology Analyzers, Hematology Reagents, Flow Cytometers, Hematology Cell Counters, Slide Strainers, Coagulation Analyzers, Hematology Testing, Centrifuges, Hemoglobin meters, Others), Oncology Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy), Oncology Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, Others), Applications (Infectious Diseases, Cancer, Cardiovascular Disorders, Blood Screening, Diabetes, HIV, Auto – Immune Diseases), End Users (Hospitals, Clinical Testing Institutes, Patient Self- Testing, Other End- Users) – Industry Trends and Forecast to 2029
Hematology Oncology Market Analysis and Size
The market for hematology oncology is expected to grow during the forecast period of 2022-2029. The rising incidence of myeloma and lymphoma worldwide is one of the main drivers of the haematology oncology market's revenue growth. Because of the proliferation of sequencing techniques like next-generation sequencing (NGS) as a result of rising development costs and the sequencing of the human genome project (HGP) in the field of genomics, market expansion prospects are also improving as a result of the increase in the accessibility of better molecular techniques for the diagnosis of hemato-oncology.
Data Bridge Market Research analyses that the hematology oncology market which was USD 8.13 billion in 2021, would rocket up to USD 14.83 billion by 2029, and is expected to undergo a CAGR of 7.80% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Hematology Product (Hematology Analyzers, Hematology Reagents, Flow Cytometers, Hematology Cell Counters, Slide Strainers, Coagulation Analyzers, Hematology Testing, Centrifuges, Hemoglobin meters, Others), Oncology Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy), Oncology Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, Others), Applications (Infectious Diseases, Cancer, Cardiovascular Disorders, Blood Screening, Diabetes, HIV, Auto – Immune Diseases), End Users (Hospitals, Clinical Testing Institutes, Patient Self- Testing, Other End- Users)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies Inc. (U.S.), Myriad Genetics Inc. (U.S.), Beijing Genomics Institute (BGI), Perkin Elmer Inc. (U.S.), Foundation Medicine Inc. (U.S.), PacBio (U.S.), Oxford Nanopore Technologies plc. (U.K.), Paradigm Diagnostics Inc. (U.S.), Caris Life Sciences (Japan), Partek, Incorporated (U.S.), Eurofins Scientific (Luxembourg), Qiagen (Germany)
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Market Opportunities
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Market Definition
Hematology is the study of blood and bone marrow illnesses and includes their diagnosis, prevention, and therapy. The field of medicine known as oncology is primarily concerned with treating and diagnosing cancer. Hematology is commonly used in treatments for conditions including diabetes, cancer, cardiovascular disease, and blood screening, among others. The three main fields of oncology are medicine, surgery, and radiation.
Global Hematology Oncology Market Dynamics
Drivers
- Rise in the prevalence of lymphoma and myeloma
The main factors propelling the expansion of the haematology oncology market is the rise in the prevalence of lymphoma and myeloma around the world. The creation and sequencing of the Human Genome Project has become more expensive, leading to a proliferation of sequencing methods like NGS. The availability of more sophisticated molecular techniques for the diagnosis of hemato oncology has also increased. The advent of cutting-edge molecular approaches to address issues with blood cancer prognosis, course of therapy, and diagnostics, as well as the rise in cases of blood disorders, have a further impact on the market.
- Rise in healthcare infrastructure
The haematology oncology market is benefited by advantageous reimbursement policies, pharmaceutical industry cooperation, and the rise in healthcare spending. Increasing investment for healthcare infrastructure. This boosts the market.
- Rise in the geriatric population
The rising prevalence rates of lifestyle disorders like as rising healthcare spending, and the fast-growing diagnostic industry, are driving the worldwide hematology oncology market expansion. In addition, the growing elderly population, increased demand for laboratory automation, and more awareness of preventative healthcare are all driving the hematology oncology market forward.
Opportunities
- Rise in cases of blood disorders
The hematology oncology market's growth is fuelled by the advent of cutting-edge molecular approaches to address issues with blood cancer prognosis, course of therapy, and diagnostics, as well as the rise in cases of blood disorders. This will provide beneficial opportunities for the hematology oncology market growth.
Moreover, an increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the growth of hematology oncology market during the forecast period.
Restraints/Challenges
- High cost
On the other hand, the high cost associated with the cancer drugs will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the hematology oncology market.
This hematology oncology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hematology oncology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Hematology Oncology Market
The COVID-19 pandemic has slightly damaged the market. In order to measure COVID-19, haematological criteria are being stressed more widely. Many hospitals have tested and kept track of COVID-19 patients using instruments like hematological analyzers. Important prognostic indicators such as lymphopenia, neutrophilia, leukocytosis, and thrombocytopenia—all of which are common findings in SARS-CoV-2 virus patients—can only be provided by a clinical haematology laboratory. Furthermore, hospitalisation, pneumonia, and pain were more likely among patients with COVID-19 and sickle cell disease (SCD). SCD patients needed to monitor their health closely since they were more prone to contract new infections. This had a immense effect on the market.
Recent Development
- In June 2022, Thermo Fisher Scientific Inc. expanded its extensive line of automated connective tissue disease tests by releasing the new EliA RNA Pol III and EliA Rib-P blood tests to assist in the diagnosis of Systemic Sclerosis and Systemic Lupus Erythematosus (SLE).
- In May 2020, The DxH 690T haematology analyzer was introduced by Beckman Coulter, a division of Danaher Corporation, in the United States. It enables mid-volume laboratories to optimise uptime and streamline workflow.
Global Hematology Oncology Market Scope
The hematology oncology market is segmented on the basis of hematology product, oncology drug class type, oncology indication, applications and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Hematology Product
- Hematology Analyzers
- Hematology Reagents
- Flow Cytometers
- Hematology Cell Counters
- Slide Strainers
- Coagulation Analyzers
- Hematology Testing
- Centrifuges
- Hemoglobin meters
- Others
Oncology Drug Class Type
- Chemotherapy
- Targeted Therapy
- Immunotherapy
- Hormonal Therapy
Oncology Indication
- Lung Cancer
- Stomach Cancer
- Colorectal Cancer
- Breast Cancer
- Prostate Cancer
- Liver Cancer
- Esophagus Cancer
- Cervical Cancer
- Kidney Cancer
- Bladder Cancer
- Others
Applications
- Infectious Diseases
- Cancer
- Cardiovascular Disorders
- Blood Screening
- Diabetes
- HIV
- Auto–Immune Diseases
End Users
- Hospitals
- Clinical Testing Institutes
- Patient Self-Testing
- Other End-Users
Hematology Oncology Market Regional Analysis/Insights
The hematology oncology market is analysed and market size insights and trends are provided by country, hematology product, oncology drug class type, oncology indication, applications and end users as referenced above.
The countries covered in the hematology oncology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hematology oncology market due to rise in incidence of leukemia, lymphoma, and multiple myeloma within the region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the growing number of research activities conducted by various academic research institutes in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hematology Oncology Market Share Analysis
The hematology oncology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hematology oncology market.
Some of the major players operating in the hematology oncology market are:
- Illumina, Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Agilent Technologies Inc. (U.S.)
- Myriad Genetics Inc. (U.S.)
- Beijing Genomics Institute (BGI)
- Perkin Elmer Inc. (U.S.)
- Foundation Medicine Inc. (U.S.)
- PacBio (U.S.)
- Oxford Nanopore Technologies plc. (U.K.)
- Paradigm Diagnostics Inc. (U.S.)
- Caris Life Sciences (Japan)
- Partek, Incorporated (U.S.)
- Eurofins Scientific (Luxembourg)
- Qiagen (Germany)
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